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Whatever it is that you can possibly want in life from a financial or lifestyle perspective can be gained from owning your own business.
“The secret to success is to do the common thing uncommonly well.”
- John D. Rockerfeller Jr.
“If you can dream it, you can do it.”
- Walt Disney
Q. Can a foreigner run or invest in a business in Thailand?
A. Yes most businesses can be run or foreign investment is also
allowed. There are some restrictions which are reserved for Thai
Nationals mainly in farming, banking, commercial transportation
and mining. These exist under various laws.
Q. Why do people want to sell their Business?
A. It is a fallacy that most buyers believe a business is For Sale
because it is not profitable. Most businesses are For Sale for human reasons, rather than financial. Usually illness, divorce, fallen out their partner, retirement, an urge to do something different or they are just ‘burnt out’ and want to take a break.
Q. What licences do I need to run a business in Thailand
A. Depending on what type of business you intend on operating, depends on the type of licences you require. Among the most popular businesses that foreigners purchase or invest in is the entertainment, bar and restaurant industry which will require the minimum following licences:
b) Alcohol and cigarette.
All businesses require a business licence whether you have a Thai Limited Company or not. If you DO NOT have a Thai Limited Company an alcohol, cigarette and Entertainment licence must be held in a Thai citizens name and CAN NOT be issued in a foreigner’s name. BBC are able to help a customer who purchases a business through us to obtain these licences.
Q. Can a foreigner have a lease for a commercial property in
their own name?
A. Yes any lease agreement can be in a foreigners personal name with a maximum period of three years without having to register the lease at the land office. There can be clause in the lease contract to extend it for a further three year period.
Before you sign a lease agreement in Thailand whether it be on a commercial shop unit or a residential condo or house, have it
checked thoroughly before signing on the ‘dotted line’.
BBC specialize in writing, checking, translating and explaining lease contracts to clients.
Q. What is Key Money?
A. Key Money is a percentage of rental monies for a commercial
building or shop house which has to paid upfront to the owner of the building. This upfront payment could be for a period of one, two or three years. This money is not a security deposit and is NOT refundable. It is part of the rent that needs to be paid.
In addition to Key Money there will be rental monies which will need to be paid monthly in advance.